10-Jan-17: Trend table outlook for FX, Commodities, Indices

By | January 10, 2017

Things still look mostly rather mixed and a cautious stance is required. The US$ looks a little heavy against the EU majors, the Yen and the commodity bloc, while Sterling also appears to be gathering increased downside momentum. If the dollar does lose some ground, the metals may make further gains although WTI does appear to be under increasing pressure.

 

EURUSD

USDJPY

GBPUSD

USDCHF

AUDUSD

NZDUSD

1 Hour

Turning Higher

Down

Becoming Oversold -Turning Higher

Neutral

Up –  Possible topping formation

Up –  Possible topping formation

4 Hour

Neutral

Turning Lower

Down

Neutral

Neutral -Turning Higher?

Turning Higher?

Day

Up

Down

Neutral – Turning lower?

Down

Up

Up

Week

Down – Turning Neutral?

Up

Up – Turning Neutral?

Up – Turning Neutral?

Turning lower

Neutral – Turning lower?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S+P

DJI

ASX SPI

GOLD

SILVER

OIL-WTI

1 Hour

Turning Lower

Turning Lower

Neutral

Up

Neutral

Down

4 Hour

Turning Lower

Neutral

Neutral

Neutral

Neutral

Turning Lower

Day

Neutral

Down -Turning

Up

Up

Turning higher

Turning Lower

Week

Up –Possible topping formation?

Up –Becoming Overbought – Possible topping formation?

Turning higher

Down –Turning Neutral

Neutral -Turning lower?

Neutral – Turning higher

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EURJPY

EURGBP

GBPAUD

AUDJPY

EURAUD

AUDNZD

1 Hour

Turning Lower

Becoming Overbought – Turning Lower?

Down Becoming oversold

Neutral

Neutral

Down

4 Hour

Turning lower

Up

Down

Neutral

Turning Lower

Neutral

Day

Turning lower

Turning Higher?

Neutral -Turning Lower?

Neutral

Neutral

Turning higher?

Week

Up

 

Down

Turning higher

Up

Neutral

Neutral

 


Green = Possible Buy Opportunity.

Red = Possible Sell Opportunity.

The products marked in red/green suggest either a short term (1hour/4 hour charts) or a longer term trend, where the dailies are aligned or seem to be aligning with the weekly indicators.

The shorter term (1+4 hour)) momentum indicators may also be aligned with the longer term charts, but equally likely, they may be pointing in the opposite direction and may suggest a buy or sell level on a pullback, in which case they may show a short term bias that differs from the longer term trend. In order to work out the short term trades, or to look for levels at which to enter the market hoping to take advantage of the longer term trend, this table should be used in conjunction with the daily outlook on www.fxcharts.net using the buy/sell support/resistance levels mentioned in the individual currency pairs, commodities or indices as a guide.

The trend tables are based on the direction of the oscillators for the various time frames, using a combination of MACDs, RSIs and Slow Stochastics.

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